Sounds like the Mini Mauser that was made by Zastava and sold/distrubuted over the years by Interarms, KBI/Charles Daly, Remington and others. If so, It is not a "small ring mauser". It was marketed as a "mini mauser", which it resembles. It doesn't have the Mauser claw extractor, but more of a Sako style. They are well made rifles. I don't think I have ever seen "normal" pricing for one at $400. However, when they were on clearance thru CDNN several years ago, I think they might have been around $400. At that price, I think they are great, but pricing now on them is pretty high and it's hard to find one on 7.62x39.
If it's not that beast, it might be a converted Yugo M48, which isn't a small ring mauser", but it is an intermediate length action.
DW